Overview

• Stuttgart prosecutors charged two former LBBW traders with aggravated joint tax evasion over a 2008 Cum-Ex scheme that cost the state about €145 million.
• The indictment claims the defendants received €70,000 and €200,000 in bonuses from the illicit trades and the regional court will decide whether to open the main trial.
• In Munich two managers convicted of evading more than €343 million in Cum-Ex taxes withdrew their appeals, making their five-year, three-month sentences and €16 million repayment orders final.
• Cum-Cum investigations now include a March indictment of five former Deutsche Pfandbriefbank managers alongside 81 closed cases recovering €226.7 million and 253 active probes totalling €7.3 billion in potential losses.
• Finance Minister Lars Klingbeil has proposed extending booking-record retention to ten years to preserve evidence in complex tax-fraud cases.